Automakers pass on GST hike to buyers

The Newspaper's Staff Reporter Published February 22, 2023

Despite a drop of over 40pc in the sales of cars, SUVs, pickups and jeeps in the first seven months of the current fiscal year, automakers continue to jack up prices. This comes amid a massive devaluation of the rupee and a rise in prices of raw materials that is causing a persistent shortage of parts and accessories owing to import restrictions. The situation is likely to become more challenging in the coming months.—Courtesy Toyota

KARACHI: While continuously increasing the prices on the pretext of rupee devaluation and rising raw material prices, assemblers on Tuesday passed on the impact of one per cent hike in general sales tax to the consumers.

Indus Motor Company (IMC) had already raised prices thrice in one month. In the fourth price jump, the company has announced new price of Yaris 1.3 MT, 1.3 CVT, 1.3 H MT, 1.3 H CVT, 1.5 MT and 1.5 CVT to Rs4.316 million, Rs4.588m, Rs4.558m, Rs4.790n, Rs4.911m and Rs5.213m from Rs4.279m, Rs4.549m, Rs4.519m, Rs4.749m, Rs4.869m and Rs5.169m.

The new rates of Corolla 1.6 MT, 1.6 CVT, 1.6 CVT Upsspec, 1.8 CVT, 1.8 CVT SR and 1.8 CVT SR BLK are Rs5.576m, Rs6.111m, Rs6.716m, Rs6.423m, Rs6.998m and Rs7.039m as compared to Rs5.529m, Rs6.059m, Rs6.659m, Rs6.369m, Rs6.939m and Rs6.979m.

The new rates of Hilux STD, STD Upspec, Deckless, 4x4 and ZTR are Rs6.787m, Rs6.917m, Rs6.282m, Rs8.985m and Rs6.504m versus Rs6.729m, Rs6.759m, Rs6.229m, Rs8.909m and Rs6.449m.

Revo STD, G MT, G AT, V AT and V AT ROCCO now carry new price tags of Rs10.316m, Rs11.184m, Rs11.728m, Rs12.969m and Rs13.675m as compared to Rs10.229m, Rs11.089, Rs11.629m, Rs 12.859m and Rs 13.559m.

Fortuner LO Petrol, High Petrol, Diesel and Diesel Legender rates have been jacked up to Rs14.230m, Rs16.297m, Rs17.175m and Rs18.112m from Rs14.109m, Rs16.159m, Rs17.029m and Rs17.959m. Pak Suzuki Motor Company Ltd (PSMCL) has raised prices by Rs110,000-263,000. The Alto VX, VXR, VXR AGS and AGS are now available at Rs2.144m, Rs2.487m, Rs2.665m and Rs2.795m from Rs2.034m, Rs2.359m, Rs2.528m and Rs2.651m.

After a hike of Rs185,000-215,000, the new prices of WagonR VXR, VXL and AGS models are Rs3.062m, Rs3.248m and Rs3.563m. Cultus VXR, VXL and AGS models are now tagged at Rs3.540m, Rs3.889m and Rs4.157m, showing a rise of Rs214,000-251,000.

Swift GL MT, GL CVT and GLX CVT prices went up by Rs245,000-263,000 to Rs4.052m, Rs4.355m and Rs4.725m. Ravi price soared to Rs1.768m from Rs1.669m, up by Rs99,000. Bolan van is now priced at Rs1.848m as against Rs1.754m.

Lucky Motor Corporation revised the price of Picanto MT and AT to Rs3.228m and Rs3.430m from Rs3.200m and Rs3.400m. Stonic EX and EX plus now carry new rates of Rs4.842m and Rs5.295m as against Rs4.800m and Rs5.250m.

The new prices of Sportage Alph, FWD and AWD have surged to Rs 6.556m, Rs 7.111m and Rs 7.716m from Rs6.500m, Rs7.050m and Rs7.650m.

The new price of Sorento 2.4L FWD is Rs 8.472m as compared to Rs 8.400m while 2.4L AWD and 3.5L FWD models now hold a new price of Rs9.178m each as compared to Rs9.100m.

Published in Dawn, February 22th, 2023

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